Groundbreaking to build new U.S. homes rose in February and new permits for construction rose to the highest level since 2008, a sign the nation’s housing market recovery is gathering steam.
The Commerce Department said on Tuesday that starts at building sites for homes rose 0.8 percent last month to a 917,000-unit annual rate. That was in line with analysts’ expectations of a 915,000-unit rate.
Starts for single-family units, which comprised about two thirds of the total, edged up 0.5 percent to their highest level since June 2008.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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